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Issuance of 67,271,723 free warrants in Globaltec Formation Berhad ("Globaltec") ("Warrants") on the basis of 1 Warrant for every 4 Consolidated Shares (as defined herein) held on 5.00 p.m., Friday, 14 December 2018 after the consolidation of every 20 ordinary shares in Globaltec ("Globaltec Shares") into 1 ordinary share in Globaltec ("Consolidated Share")
Each Warrant entitles the Warrant holder to subscribe for 1 new Globaltec Share at any time during the exercise period as indicated above ("Exercise Period") at the exercise price of RM0.72, subject to adjustments in accordance with the provisions of the deed poll dated 30 November 2018. Any Warrants which are not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 24 December 2018.